Annual Report 2006 - Euromaint

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The role of employees on the Board Bertil hallén is one of the three employee representatives on EuroMaint’s Board of Directors. as a union spokesperson it is his task to protect members’ interests. as a member of the Board he is involved in managing the Group’s development. So is there any conflict between these two roles? how does the collaboration between the union organisations and the Group work? Relations between Group management and the union are good. This is a brief summary of Bertil Hallén’s view of relations between the parties. “The most important thing is that we now always receive information very early on, as soon as possible. Also there’s an ongoing dialogue, where I’ve noticed that the managers of both companies and the Group genuinely listen and take our arguments on board.” agreement but not about everything When the Group’s long-term strategies are being discussed, a consensus is usually reachable. For example, all parties consider investment in development important. For personnel it is important to be advanced in their technical and skills development as it creates opportunities for a good pay situation. EuroMaint has a co-operation agreement “This doesn’t mean we agree on everything, but that we come to an agreement in negotiation. The difference is that we’re involved from an early stage and have more of an opportunity to affect decisions, although this can also mean we have to be involved in the process ahead of unpleasant decisions. “Then there are some issues where we will never agree completely, such as overcapacity and pay,” says Bertil. He explains that it can sometimes be difficult to be in the know about tough decisions at an early stage. He is not always able to inform union members about what he knows straight away. “My priority is always the best interests of the members. The trick is to know what’s best in the long term. Afterwards I always have to be able to explain what has happened, and why. Information is an important part of my role, and something that can always be improved.” Personnel have a lot of knowledge Bertil Hallén has worked in the rail transport industry for almost 30 years and he has been an employee representative on the Board since 2001. He currently sits on the Boards of AB Swedcarrier and EuroMaint AB. “It wasn’t easy being a union representative on the Board in the beginning. It took a while for everyone to grow into their roles, and I found that many of the external representatives didn’t understand very much about our operation, although this has improved a lot. “I think employee representatives have contributed a lot of knowledge to the Board. We look at how the company is performing from a completely different perspective and we can explain what needs to be done.” Bertil says that it is not always easy for an individual employee to bring his or her manager’s attention to areas that should be improved. In such cases it may be simpler to take the issue to the union which can ensure the matter is dealt with at a higher level. Positive development The main change Bertil has witnessed over the past five years has been the fact that everyone seems more involved now, which is closely linked to the clearer control. “It’s taken a while to get this far, but now it feels very positive. This is largely thanks to the management, they’ve really made an effort to ensure everyone can see the bigger picture. They’re also very clear about where we are and where we’re heading. “Another positive thing is that EuroMaint Industry has now become part of the Group, it’s good to have another leg to stand on. There is potential for excellent results. I think that from the union’s position we can offer plenty of good advice for its development.” 3
Five-year summary 40 PRO FORMa PRO FORMa INCOME STaTEMENT, SEK mn <strong>2006</strong> 2005 2004 2003 2002 Turnover 2,037 1,872 1,4 3 1,653 1,87 Operating profit/loss 100 114 47 -103 -188 Net financial revenues/expense - -11 -10 -11 -26 Profit/loss after tax 70 2 52 -106 -164 CaSh FLOW, SEK mn Cash flow from: Operating activities 77 62 48 -40 -56 Investment activities -32 -100 -34 10 -21 Financing activities -66 0 0 30 76 Change in cash and cash equivalents -21 52 14 0 0 BaLaNCE ShEET, SEK mn Fixed assets 207 221 160 113 140 Receivables and stock 776 6 3 563 6 0 722 Cash and cash equivalents 45 66 14 0 0 TOTaL aSSETS 1,028 980 737 803 862 Equity 24 178 81 18 110 Deferred tax 8 12 0 0 13 Other provisions 63 66 46 54 75 Long-term liabilities 274 340 250 250 240 Operating liabilities 434 384 35 481 424 TOTaL EQuITy aND LIaBILITIES 1,028 980 737 803 862 The relevant figures for 2002–2004 relate to EuroMaint Rail. EuroMaint Industry is included from 1 July 2005.
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Page 17 and 18: 16 Sweden Baltic sea Estonia Latvia
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Page 69 and 70: Board report into internal control
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